(Newser)
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The third major bond rating agency joined the chorus warning that the US is in danger of losing its AAA credit rating today. Fitch Ratings said it was placing US in the “ratings watch negative” category, which according to Politico can lead to a downgrade in three to six months.

That downgrade will come, the agency says, if the Treasury fails to pay bondholders on August 4 as promised. The agency said, however, that it still expects the US to reach a deal to prevent that occurrence. “Agreement on a credible fiscal consolidation strategy will secure the US' AAA status,” the agency said. “Failure to do so will inevitably weaken the sovereign credit profile and may result in a sovereign rating downgrade.”

Moody's et al threatened to downgrade our rating a few months ago as well, during the budget debates.Still no budget. This is just a continued threat, not a new one due to the debt ceiling. This has to do with financing Obama Care. Can't do it without raising the amount we can borrow. How 'bout a compromise, raise the debt ceiling, but in return, repeal Obama Care. How's that compromise??

Rev_Matthew

Jul 18, 2011 5:23 PM CDT

More Hobgoblins created to direct our eyes away from how these same bankers are profiting at the expense of your children's education and your health....Oh No!!! Standard and Poor, Moody's, and Finch are going to downgrade our credit rating? Well there are just as many ways that we could downgrade their rich entitled bums right the hell out of our country with the laws they are using to enslave us. Don't think you are a slave? Working people; look at your paycheck and determine how much of your hard earned money is lost in rent, taxes, utilities (which we have paid for in taxes; yet government contractors are allowed gouge working people for power that should be included as a benefit of public ownership....). then stop and look at all of the other ways they relieve you of hard earned cash. This cash is representative of your time and really even with emerging medical technologies a human has about 100 years of life...so lets do the math...at average wage of ($15.00hr) multiplied by 50 (the average work week of the middle class) times the number of weeks in a year (52.1775) further multiplied by 52 years of legal work equals about $2,034,922.50 This means if you make an average of $39,900 per year (near the national median) your life is worth only $2,034,922.50 in potential profits to these people. The only way for them to get more out of you via the government is an intentional system of debt. These people have taken the final arrogant step of believing that they can do what they will and make slaves of the good people of America.